en11Jun/Innovation and Top Income Inequalityhttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-557_01.pdf
Bank of France Working Papers by Philippe Aghion, Ufuk Akcigit, Antonin Bergeaud Richard, Blundell, David Hémous.Innovation and Top Income Inequality2015-06-11T12:33:00ZIn this paper we use cross-state panel data to show a positive and significant correlation between various measures of innovativeness and top income inequality in the United States over the past decades. Two distinct instrumentation strategies suggest that this correlation (partly) reflects a causality from innovativeness to top income inequality, and the effect is significant: for example, when measured by the number of patent per capita, innovativeness accounts on average across US states for around 17% of the total increase in the top 1% income share between 1975 and 2010. Yet, innovation does not appear to increase other measures of inequality which do not focus on top incomes. Next, we show that the positive effects of innovation on the top 1% income share are dampened in states with higher lobbying intensity. Finally, from cross-section regressions performed at the commuting zone (CZ) level, we find that: (i) innovativeness is positively correlated with upward social mobility; (ii) the positive correlation between innovativeness and social mobility, is driven mainly by entrant innovators and less so by incumbent innovators, and it is dampened in states with higher lobbying intensity. Overall, our findings vindicate the Schumpeterian view whereby the rise in top income shares is partly related to innovation-led growth, where innovation itself fosters social mobility at the top through creative destruction.Innovation and Top Income Inequality2015-06-11T12:33:00ZAbstracthttps://www.banque-france.fr/en/economics-statistics/research/working-paper-series/document/557-1.htmlFull texthttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-557_01.pdfAntonin Bergeaud RichardUfuk AkcigitPhilippe AghionDavid Hémous.BlundellPhilippe Aghion, Ufuk Akcigit, Antonin Bergeaud Richard, Blundell, David Hémous.2015-06Bank of France Working PapersD63J14J15O30O31O33O34O40O43O4730Apr/GDP per capita in advanced countries over the 20th centuryhttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-549_01.pdf
Bank of France Working Papers by Antonin Bergeaud, Gilbert Cette and Rémy LecatGDP per capita in advanced countries over the 20th century2015-04-30T12:33:00ZGDP per capita in advanced countries over the 20th century2015-04-30T12:33:00ZAbstracthttps://www.banque-france.fr/en/economics-statistics/research/working-paper-series/document/549-1.htmlFull texthttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-549_01.pdfRémy LecatAntonin BergeaudGilbert CetteAntonin Bergeaud, Gilbert Cette and Rémy Lecat2015-04Bank of France Working PapersE20N10O4729Apr/&quot;Made in China&quot; - How does it affect our understanding of global market shares?http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1787.en.pdf
European Central Bank Working papers by Konstantins Benkovskis, Julia Wörz&quot;Made in China&quot; - How does it affect our understanding of global market shares?2015-04-29T12:31:59ZWe propose a comprehensive decomposition of changes in a countrys global market shares that accounts for the value added content of trade. We perform the analysis by combining two datasets disaggregated trade data from UN Comtrade with internationally integrated Supply and Use Tables from the WIOD. The inclusion of international fragmentation alters the underlying story behind changes in market shares. The ongoing global outsourcing affects market shares directly by shifting production from G7 to BRIC countries. Moreover, accounting for the providers of the value added alters the balance between price and non-price drivers of market shares. Changes in relative quality of countries exports are often due to the use of intermediate inputs. For instance, the seemingly improved relative quality of BRIC export goods largely arose from intermediate inputs rather than from improvements in the quality of domestic production. In most cases, the dynamics of the value- added market shares is dominated by price factors.&quot;Made in China&quot; - How does it affect our understanding of global market shares?2015-04-29T12:31:59ZECBFull texthttp://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1787.en.pdfKonstantins BenkovskisJulia WörzKonstantins Benkovskis, Julia Wörz2015-04-29European Central Bank Working papersC43F12F15L15O4714Apr/Isoelastic elasticity of substitution production functionshttp://www.nbp.pl/publikacje/materialy_i_studia/201_en.pdf
National Bank of Poland Working papers by Jakub GrowiecIsoelastic elasticity of substitution production functions2015-04-14T17:44:59ZWe generalize the normalized Constant Elasticity of Substitution (CES) production function by allowing the elasticity of substitution to vary isoelastically with (i) rela- tive factor shares, (ii) marginal rates of substitution, (iii) capital-labor ratios, or (iv) capital-output ratios. Ensuing four variants of Isoelastic Elasticity of Substitution (IEES) production functions have a range of intuitively desirable properties and yield empirically testable predictions for the functional relationship between relative factor shares and capital-labor ratios.Isoelastic elasticity of substitution production functions2015-04-14T17:44:59ZFull texthttp://www.nbp.pl/publikacje/materialy_i_studia/201_en.pdfJakub GrowiecJakub Growiec2015National Bank of Poland Working papersE23O4708Apr/On the modeling of size distributions when technologies are complexhttp://www.nbp.pl/publikacje/materialy_i_studia/195_en.pdf
National Bank of Poland Working papers by Jakub Growiec,On the modeling of size distributions when technologies are complex2015-04-08T17:34:00ZThe study considers a stochastic R&amp;D process where the invented production tech- nologies consist of a large number n of complementary components. The degree of complementarity is captured by the elasticity of substitution of the CES aggregator function. Drawing from the Central Limit Theorem and the Extreme Value Theory we ﬁnd, under very general assumptions, that the cross-sectional distributions of technological productivity are well-approximated either by the lognormal, Weibull, or a novel &quot;CES/Normal&quot; distribution, depending on the underlying elasticity of substitution between technology components. We ﬁnd the tail of the &quot;CES/Normal&quot; distribution to be fatter than the Weibull tail but thinner than the Pareto (power law) one. We numerically assess the rate of convergence of the true technological productivity distribution to the theoretical limit withOn the modeling of size distributions when technologies are complex2015-04-08T17:34:00ZFull texthttp://www.nbp.pl/publikacje/materialy_i_studia/195_en.pdfJakub GrowiecJakub Growiec,2015National Bank of Poland Working papersE23L11O4728Feb/Aggregate Effects of a Universal Social Insurance Fiscal Reformhttp://www.banxico.org.mx/publicaciones-y-discursos/publicaciones/documentos-de-investigacion/banxico/{FF2FA564-7F5A-CFAF-016C-8AC698577CC5}.pdf
Bank of Mexico Working Papers by Antn Arturo; Leal-Ordoez Julio CAggregate Effects of a Universal Social Insurance Fiscal Reform2015-02-28T06:17:59ZIn a typical developing country, coverage of the contributory social security system is low. We analyze the aggregate effects of a revenue-neutral fiscal-cum-social policy reform that consists of: 1) the implementation of universal social insurance to replace the system with low coverage; and 2) the elimination of the social security payroll tax to replace it with a generalized VAT. We find that this reform increases productivity by 2 percent and output by 3 percent as it improves the allocation of resources across firms and sectors, and generates a substantial change in occupational choices. Thus, wages (before transfers) increase for all employees. Also, due to the reconfiguration of transfers, earnings (wages after transfers) for informal employees increase relative to the earnings of formal employees, which decreases inequality. However, the reform could affect some groups in the population, given the regressive nature of VAT and heterogeneity in the valuation of transfers across workers.Aggregate Effects of a Universal Social Insurance Fiscal Reform2015-02-28T06:17:59ZFull texthttp://www.banxico.org.mx/publicaciones-y-discursos/publicaciones/documentos-de-investigacion/banxico/{FF2FA564-7F5A-CFAF-016C-8AC698577CC5}.pdfC Leal-Ordoez JulioArturo AntnAntn Arturo; Leal-Ordoez Julio C2015-02Bank of Mexico Working PapersE62H55O17O4715Dec/Enterprise productivity: a three-speed Europehttp://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1748.en.pdf
European Central Bank Working papers by Andrea Dall&#39;Olio, Mariana Iootty, Naoto Kanehira, Federica SaliolaEnterprise productivity: a three-speed Europe2014-12-15T12:31:59ZBetween 2003 and 2008 productivity patterns diverged between the fast growing, newest members of the European Union and the slower paced, elder ones as would be expected. However, there are also striking divergences within the latter group, with productivity in Southern Europe going into reverse. This paper analyzes which factors - whether countrylevel or firm-specific ones - contributed more to the emergence of a three-speed Europe. The analysis combines firm-level data with country-level inputs. Among the newest members of the European Union, country characteristics including the stock of inward foreign direct investment, the availability of credit, and the quality of the business environment and the skills of the workforce prove to be the most important drivers. Firm specific characteristics are shown to matter as well, notably that small firms and firms which are part of international groups realize more productivity gains than larger domestic competitors. Among the more advanced member countries, firm-level characteristics are most important, with larger firms and firms with international affiliation demonstrating faster productivity gains. Country specific factors, such as the quality of the business environment, the size of outward FDI and the skills of the workforce, do matter as well. These explanations of diverging productivity patterns suggest that European Union nations can realize significant benefits from low cost policy interventions such as improving business regulations and encouraging firms internationalization.Enterprise productivity: a three-speed Europe2014-12-15T12:31:59ZECBFull texthttp://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1748.en.pdfFederica SaliolaNaoto KanehiraMariana IoottyAndrea Dall'OlioAndrea Dall&#39;Olio, Mariana Iootty, Naoto Kanehira, Federica Saliola2014-12European Central Bank Working papersD22H11O47O5211Nov/The Evolution of Comparative Advantage: Measurement and Implicationshttp://www.chicagofed.org/webpages/publications/working_papers/2014/wp_12.cfm
Chicago Fed Working papers by Andrei A. Levchenko and Jing ZhangThe Evolution of Comparative Advantage: Measurement and Implications2014-11-11T06:21:59ZWe estimate productivities at the sector level for 72 countries and 5 decades, and examine how they evolve over time in both developed and developing countries. In both country groups, comparative advantage has become weaker: productivity grew systematically faster in sectors that were initially at greater comparative disadvantage. These changes have had a significant impact on trade volumes and patterns, and a non-negligible welfare impact. In the counterfactual scenario in which each country&#39;s comparative advantage remained the same as in the 1960s, and technology in all sectors grew at the same country-specific average rate, trade volumes would be higher, cross-country export patterns more dissimilar, and intra-industry trade lower than in the data. In this counterfactual scenario, welfare is also 1.6% higher for the median country compared to the baseline. The welfare impact varies greatly across countries, ranging from −1.1% to +4.3% among OECD countries, and from −6% to +41.9% among non-OECD countries.The Evolution of Comparative Advantage: Measurement and Implications2014-11-11T06:21:59ZAbstracthttp://www.chicagofed.org/webpages/publications/working_papers/2014/wp_12.cfmFull texthttp://www.chicagofed.org/digital_assets/publications/working_papers/2014/wp2014_12.pdfAndrei A. LevchenkoJing ZhangAndrei A. Levchenko, Jing Zhang2014-10Chicago Fed Working papersF11F43O33O4711Nov/Rebuilding after Disaster Strikes: How Local Lenders Aid in the Recoveryhttp://www.clevelandfed.org/research/workpaper/2014/wp1428.pdf
Cleveland Fed Working papers by Kristle Romero CortésRebuilding after Disaster Strikes: How Local Lenders Aid in the Recovery2014-11-11T06:21:59ZUsing detailed employment data on firm age and size, I show that the presence of local finance improves job retention and creation at young and small firms. I use natural disasters and regulatory guidance to disentangle the effects of credit supply and demand. I find that an additional standard deviation of local finance offsets the negative effects of the disaster and can lead to 1 to 2% higher employment growth at either young or small firms. Banks increase lending but are not borrowing against future lending, nor do they experience changes in default rates. These findings suggest that local lenders play an important and necessary role in job creation in the economy.Rebuilding after Disaster Strikes: How Local Lenders Aid in the Recovery2014-11-11T06:21:59ZFull texthttp://www.clevelandfed.org/research/workpaper/2014/wp1428.pdfKristle Romero CortésKristle Romero Cortés2014-11Cleveland Fed Working papersG21O4721Oct/When firms and industries matter: understanding the sources of productivity growthhttp://www.bis.org/publ/work469.pdf
Bank for International Settlements Working papers by Ulf Lewrick, Lukas Mohler and Rolf WederWhen firms and industries matter: understanding the sources of productivity growth2014-10-21T12:33:00ZThis paper presents a framework to assess the relative importance of three key sources of productivity growth that research on international trade focuses on: (i) inter-industry specialisation;
(ii) intra-industry reallocation of resources across heterogeneous firms, including firm entry and exit; and (iii) technological progress. Detailed data on Swiss manufacturing firms illustrate how the framework can be empirically applied. Based on this example, we find that intra-industry reallocations are the most important source of growth in aggregate total factor productivity, reflecting in particular the productivity growth of large, incumbent firms and the entry of new firms. That said, inter-industry specialisation and general technological progress
remain important supplementary sources of growth in Swiss manufacturingWhen firms and industries matter: understanding the sources of productivity growth2014-10-21T12:33:00ZBISAbstracthttp://www.bis.org/publ/work469.htmFull texthttp://www.bis.org/publ/work469.pdfLukas MohlerUlf LewrickRolf WederUlf Lewrick, Lukas Mohler and Rolf Weder2014-10Bank for International Settlements Working papersF14L60O4717Oct/Product and Labor Market Regulations, Production Prices, Wages and Productivityhttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-514_01.pdf
Bank of France Working Papers by Gilbert Cette, Jimmy Lopez and Jacques MairesseProduct and Labor Market Regulations, Production Prices, Wages and Productivity2014-10-17T17:34:00ZThis study is to our knowledge the first attempt to infer the consequences on productivity entailed by anticompetitive regulations in product and labor markets through their impacts on production prices and wages. Results are encouraging showing that changes in production prices and wages at country*industry levels are informative about the creation of rents impeding productivity in different ways and to different extents. A simulation based on these results and on OECD regulation indicators suggests that nearly all countries, in particular European countries, could expect sizeable gains in multifactor productivity over the years from an economic policy that would be able to reform product and labor market regulation practices.Product and Labor Market Regulations, Production Prices, Wages and Productivity2014-10-17T17:34:00ZAbstracthttps://www.banque-france.fr/en/economics-statistics/research/working-paper-series/document/514-1.htmlFull texthttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-514_01.pdfJimmy LopezJacques MairesseGilbert CetteGilbert Cette, Jimmy Lopez and Jacques Mairesse2014-10Bank of France Working PapersC23L16L50O43O4701Aug/Made in China - How Does it Affect Measures of Competitiveness?http://www.oenb.at/dms/oenb/Publikationen/Volkswirtschaft/Working-Papers/2014/Working-Paper-193/fullversion/WP193_screen/WP193_19.5.2014_screen.pdf
National Bank of the Republic of Austria Working Papers by Konstantins Benkovskis, Julia WörzMade in China - How Does it Affect Measures of Competitiveness?2014-08-01T06:17:00ZWe propose a comprehensive analysis of a country&#39;s price and non-price competitiveness that accounts for changes in the value added content of trade by combining two datasets - highly disaggregated trade data from UN Comtrade with internationally integrated Supply and Use Tables from the WIOD database. When we focus attention to the traditional measure of gross exports of goods, the analysis shows that advanced economies lost non-price competitiveness relative to emerging economies over the period 1995 to 2011. This picture changes when the fragmentation of production is considered. We find that the relative quality of production from the US, Canada, Germany and the UK when tracing value added in exports remained unchanged or even increased over this period. Likewise, the seemingly unchanged or improving relative quality of Brazil&#39;s, Russia&#39;s and India&#39;s export goods largely arose from outsourcing rather than from improvements in the quality of domestic production. However, gains in Chinese non-price competitiveness remain impressive even after accounting for global value chain integration.Made in China - How Does it Affect Measures of Competitiveness?2014-08-01T06:17:00ZAbstracthttp://www.oenb.at/en/Publications/Economics/Working-Papers/2014/Working-Paper-193.htmlFull texthttp://www.oenb.at/dms/oenb/Publikationen/Volkswirtschaft/Working-Papers/2014/Working-Paper-193/fullversion/WP193_screen/WP193_19.5.2014_screen.pdfKonstantins BenkovskisJulia WörzKonstantins Benkovskis, Julia Wörz2014-05Austrian National Bank Working PapersC43F12F15L15O4708Jul/Does ICT remain a powerful engine of growth?https://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-476_01.pdf
Bank of France Working Papers by Gilbert CetteDoes ICT remain a powerful engine of growth?2014-07-08T17:36:59ZICT productive performances have slowed down since the beginning of the 2000s, before the current crisis. This diagnosis could be due, at least partly, to some statistical mis-measurements of ICT improvements. Nevertheless, improvements in ICT performances will probably be positively impacted, in some years, by large technological developments as for example the productive use, in computers, of the 3D chip. The lag of ICT diffusion in non-US developed countries, mainly Europe and Japan, compare to the US, is explained by institutional aspects: a lower education level, on average, of the working-age population and more regulations on labour and product markets. By implementing structural reforms, these countries could benefit from a productivity acceleration linked to a catch-up of the US ICT diffusion level. And they could benefit, without any delay with the US, from the possible ICT productivity growth second wave.Does ICT remain a powerful engine of growth?2014-07-08T17:36:59ZAbstracthttps://www.banque-france.fr/en/economics-statistics/research/working-paper-series/document/476-1.htmlFull texthttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-476_01.pdfGilbert CetteGilbert Cette2014-02Bank of France Working PapersE22J24O31O33O4708Jul/Productivity trends from 1890 to 2012 in advanced countrieshttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT_475.pdf
Bank of France Working Papers by Antonin Bergeaud, Gilbert Cette et Rémy LecatProductivity trends from 1890 to 2012 in advanced countries2014-07-08T17:36:59ZIn order to examine innovation diffusion and convergence processes, we study productivity trends, trend breaks and levels for 13 advanced countries over 1890-2012. We highlight two productivity waves, a big one following the second industrial revolution and a small one following the ICT revolution. The first big wave was staggered across countries, hitting the US first in the Interwar years and the rest of the world after World War II. It came long after the actual innovation could be implemented, emphasizing a long diffusion process. The productivity leader changed during the period under study, the Australian and UK leadership becoming a US one during the first part of the XXth century and, for very particular reasons, also a Norwegian, Dutch and French one at least for some years at the end of the XXth century. The convergence process has been erratic, halted by inappropriate institutions, technology shocks, financial crises but above all by wars, which led to major productivity level leaps, downwards for countries experiencing war on their soil, upwards for other countries. Productivity trend breaks are detected following wars, global financial crises, global supply shocks (such as the oil price shocks) and major policy changes (such as structural reforms in Canada or Sweden). The upward trend break for the US in the mid-1990s is confirmed, as well as the downward trend break for the Euro Area in the same period. The downward trend break observed as early as the mid-2000s for the US leads one to question the future contribution of the ICT revolution to productivity enhancement.Productivity trends from 1890 to 2012 in advanced countries2014-07-08T17:36:59ZAbstracthttps://www.banque-france.fr/en/economics-statistics/research/working-paper-series/document/475-1.htmlFull texthttps://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT_475.pdfRémy LecatAntonin BergeaudGilbert CetteAntonin Bergeaud, Gilbert Cette, Rémy Lecat2014-02Bank of France Working PapersE22N10O4713Jun/Productivity and Potential Output Before, During, and After the Great Recessionhttp://www.frbsf.org/economic-research/publications/working-papers/wp2014-15.pdf
San Francisco Fed Working Papers by John G. FernaldProductivity and Potential Output Before, During, and After the Great Recession2014-06-13T06:21:00ZU.S. labor and total-factor productivity growth slowed prior to the Great Recession. The timing rules explanations that focus on disruptions during or since the recession, and industry and state data rule out bubble economy stories related to housing or finance. The slowdown is located in industries that produce information technology (IT) or that use IT intensively, consistent with a return to normal productivity growth after nearly a decade of exceptional IT-fueled gains. A calibrated growth model suggests trend productivity growth has returned close to its 1973-1995 pace. Slower underlying productivity growth implies less economic slack than recently estimated by the Congressional Budget Office. As of 2013, about ¾ of the shortfall of actual output from (overly optimistic) pre-recession trends reflects a reduction in the level of potential.Productivity and Potential Output Before, During, and After the Great Recession2014-06-13T06:21:00ZFull texthttp://www.frbsf.org/economic-research/publications/working-papers/wp2014-15.pdfJohn G. FernaldJohn G. Fernald2014-06San Francisco Fed Working PapersE23E32O41O4717Apr/The productivity puzzle: a firm-level investigation into employment behaviour and resource allocation over the crisishttp://www.bankofengland.co.uk/research/Pages/workingpapers/2014/wp495.aspx
Bank of England Working papers by Alina Barnett, Adrian Chiu, Jeremy Franklin and Maria Sebastia-BarrielThe productivity puzzle: a firm-level investigation into employment behaviour and resource allocation over the crisis2014-04-17T17:34:00ZLabour productivity in the United Kingdom has been exceptionally weak since the 2007/08 financial crisis. This paper uses firm-level data from the Office for National Statistics Annual Business Survey and the Inter-Departmental Business Register to better understand the nature of this weakness. Overall, our findings are consistent with existing literature which finds that within-firm productivity growth tends to be procyclical and emphasises the importance of the reallocation of resources between firms and sectors for productivity growth. More specifically, we find that up until 2011 there was a doubling in the proportion of firms with shrinking output and flat employment. This suggests that firms were able to respond flexibly to weak demand conditions by retaining staff at the expense of measured productivity, suggestive of an opening up of spare capacity within firms. However, the strength of recent hiring behaviour since 2012 means that this is now likely to be less of a factor. The lack of labour shedding, together with a low firm exit rate, is also indicative of low levels of resource reallocation between firms and sectors. To assess the importance of this to aggregate productivity growth we apply the method used by Baily, Bartelsman and Haltiwanger. We find that reallocation between firms (in terms of both the movement of labour and firm entry and exit) contributed significantly to aggregate productivity growth before the crisis, but its contribution fell substantially after. In fact, around one third of the productivity slowdown after 2007 can be attributed to slower reallocation of resources. The extent to which reduced factor reallocation, and so the weakness in productivity growth, persists remains a key question for the economic outlook.The productivity puzzle: a firm-level investigation into employment behaviour and resource allocation over the crisis2014-04-17T17:34:00ZAbstracthttp://www.bankofengland.co.uk/research/Pages/workingpapers/2014/wp495.aspxFull texthttp://www.bankofengland.co.uk/research/Documents/workingpapers/2014/wp495.pdfJeremy FranklinMaria Sebastia-BarrielAlina BarnettAdrian ChiuAlina Barnett, Adrian Chiu, Jeremy Franklin and Maria Sebastia-Barriel2014-04-17Bank of England Working papersE32L11O4727Apr/Productivity in the Euro area: any evidence of convergence?http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1431.pdf
European Central Bank Working papers by David SondermannProductivity in the Euro area: any evidence of convergence?2012-04-27T17:36:00ZSizable prevailing real economic disparities among countries in a currency union potentially involve costs for those countries for which the aggregate policy stance is not appropriate. This paper contributes to the literature by testing for productivity convergence among euro area countries. While no convergence can be found on the aggregate level, selected service sectors and manufacturing sub-industries indicate evidence of convergence. In a search for factors in uencing productivity, investments in research and development as well as a high skill level of employees are shown to be beneficial whereas regulations constitute a burden. Consequently, euro area countries should engage in structural reforms where necessary to provide a more competitive environment, eventually facilitating economic convergence.Productivity in the Euro area: any evidence of convergence?2012-04-27T17:36:00ZECBFull texthttp://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1431.pdfDavid SondermannDavid Sondermann2012-04-27European Central Bank Working papersC33J24L60L80O4702Mar/A user cost approach to capital measurement in aggregate production functionshttp://www.bundesbank.de/download/volkswirtschaft/dkp/2012/201201dkp.en.pdf
Deutsche Bundesbank Discussion Papers by Thomas A. KnetschA user cost approach to capital measurement in aggregate production functions2012-03-02T12:35:00ZA user cost approach to capital measurement in aggregate production functions2012-03-02T12:35:00ZFull texthttp://www.bundesbank.de/download/volkswirtschaft/dkp/2012/201201dkp.en.pdfThomas A. KnetschThomas A. Knetsch2012-03-02Deutsche Bundesbank Discussion PapersC43E01O4724Mar/Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approachhttp://www.frbatlanta.org/pubs/wp/11_05.cfm
Atlanta Fed Working papers by Working Paper 2011-5Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach2011-03-24T17:42:00ZThe authors measure the welfare gain from the introduction of and price decline in personal computers, determining the gain to be in the range of 2 percent to 3 percent of consumption expenditure.Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach2011-03-24T17:42:00ZAbstracthttp://www.frbatlanta.org/pubs/wp/11_05.cfmKaren KopeckyJeremy GreenwoodWorking Paper 2011-52011-03-24Atlanta Fed Working papersE01E21O33O4724Aug/Imposing parsimony in cross-country growth regressions,http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1234.pdf
European Central Bank Working papers by Marek JarocinskiImposing parsimony in cross-country growth regressions,2010-08-24T06:21:00ZThe number of variables related to long-run economic growth is large compared with the number of countries. Bayesian model averaging is often used to impose parsimony in the cross-country growth regression. The underlying prior is that many of the considered variables need to be excluded from the model. This paper, instead, advocates priors that impose parsimony without excluding variables. The resulting models fit the data better and are more robust to revisions of income data. The positive relationship between measures of trade openness and growth is much stronger than found in the literature.Imposing parsimony in cross-country growth regressions,2010-08-24T06:21:00ZECBFull texthttp://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1234.pdfMarek JarocinskiMarek Jarocinski2010-08-23European Central Bank Working papersC20C52O40O4725Jun/Banking sector output measurement in the euro area - a modified approach,http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1204.pdf
European Central Bank Working papers by Antonio Colangelo, Robert InklaarBanking sector output measurement in the euro area - a modified approach,2010-06-25T12:43:59ZBanks do not charge explicit fees for many of the services they provide but the service payment is bundled with the offered interest rates. This output therefore has to be imputed using estimates of the opportunity cost of funds. We argue that rather than using the single short-term, low-risk interest rate as in current official statistics, reference rates should more closely match the risk characteristics of loans and deposits. For the euro area, imputed bank output is, on average, 24 to 40 percent lower than according to current methodology. This implies an average downward adjustment of euro area GDP (at current prices) between 0.16 and 0.27 percent.Banking sector output measurement in the euro area - a modified approach,2010-06-25T12:43:59ZECBFull texthttp://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1204.pdfRobert InklaarAntonio ColangeloAntonio Colangelo, Robert Inklaar2010-06-04European Central Bank Working papersE01E44O4718Jun/Productivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Centuryhttp://www.banque-france.fr/gb/publications/telechar/ner/ner271.pdf
Bank of France Working Papers by Gilbert Cette, Yusuf Kocoglu and Jacques MairesseProductivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Century2010-06-18T12:46:59ZProductivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Century2010-06-18T12:46:59ZAbstracthttp://www.banque-france.fr/gb/publications/ner/1-271.htmFull texthttp://www.banque-france.fr/gb/publications/telechar/ner/ner271.pdfYusuf KocogluJacques MairesseGilbert CetteGilbert Cette, Yusuf Kocoglu and Jacques Mairesse2010-01Bank of France Working PapersE22J24N10O47O5727Apr/On the measurement of technological progress across countrieshttp://www.nbp.pl/publikacje/materialy_i_studia/73_en.pdf
National Bank of Poland Working papers by Jakub GrowiecOn the measurement of technological progress across countries2010-04-27T17:44:00ZOn the measurement of technological progress across countries2010-04-27T17:44:00ZFull texthttp://www.nbp.pl/publikacje/materialy_i_studia/73_en.pdfJakub GrowiecJakub Growiec2010National Bank of Poland Working papersE23O11O14O33O4707Apr/The measurement of capital services in the Czech Republichttp://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2008_11.pdf
Czech National Bank Working papers by Dana HájkováThe measurement of capital services in the Czech Republic2010-04-07T17:40:00ZJEL Codes: E23, O11, O12, O47The measurement of capital services in the Czech Republic2010-04-07T17:40:00ZAbstracthttp://www.cnb.cz/en/research/research_publications/cnb_wp/2008/cnbwp_2008_11.htmlFull texthttp://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2008_11.pdfDana HájkováDana Hájková2008-04Czech National Bank Working papersE23O11O12O4706Jan/Productivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Centuryhttp://www.banque-france.fr/gb/publications/telechar/ner/ner265.pdf
Bank of France Working Papers by Gilbert Cette, Yusuf Kocoglu and Jacques MairesseProductivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Century2010-01-06T12:41:00ZProductivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Century2010-01-06T12:41:00ZAbstracthttp://www.banque-france.fr/gb/publications/ner/1-265.htmFull texthttp://www.banque-france.fr/gb/publications/telechar/ner/ner265.pdfYusuf KocogluJacques MairesseGilbert CetteGilbert Cette, Yusuf Kocoglu and Jacques Mairesse2010-01Bank of France Working PapersE22J24N10O47O57